With 2018 becoming a bygone year, all insurance companies have started to publish their own annual report of claims in 2018 statistically, in order to give the little ones a clearer picture of the items and amounts of claims, and the most important thing is that through the annual report of claims it allows the little ones to reflect on whether the family policy they already have covers high-claims insurance items; insurance companies which are the best, I just happen to have organized the relevant content, and I hope that it will be helpful to you! Help: the latest list! Ranking the Top 10 Insurance Companies in China
I've read a lot of summaries of claims annual reports before, but I feel like there are still some that haven't been mentioned,
Mr. Murphy, after reading a number of claims annual reports, including: China Life, Ping An Life, Taikang Life, Xinhua Life, Hwa Hsia Life, Hongkang Life, Sunshine Life, Tian'an Life, IMBA Ansheng Life, CITIC Life, Sino-German Allianz Life, Tongfang Global Life, Lujiazui Guotai Life, Great Wall Life, Hundred Years of Life and other nearly 20 insurance companies in 2018 after the annual report of the claims, to help you organize some representative claims data, so that we are clear about the high payout of the "insurance responsibility", to help you more targeted insurance and analyze the product in the future.
01. Claims amount and claims rateFirst of all, from the perspective of the 14 insurance companies that have already announced their claims amount and claims rate, the total amount of claims in 2018 exceeds RMB 101.4 billion, which is equivalent to $278 million that needs to be paid out every day; the average claims rate is more than 97%, and these claims amounts and rates are just the tip of the iceberg of the entire mainland insurance market.
So: insurance has already paid out to the point of inhumanity, and you are still afraid of the difficulty of claims?
Secondly, some of you may see that companies like State Life, Ping An, Taikang and Xinhua have higher claim totals, while others have fewer claims - is it because no one from other companies is insured?
--No
The amount of insurance claims is related to the time of establishment of the insurance company and the structure of the business volume, the old five insurance companies because of the history of the policy volume is high, the amount of claims is high is normal;
Now a lot of sharp up-and-coming insurance companies claims amount of the rapid increase, is showing that more and more people insure these "new noble" companies.
With the post-80s and post-90s gradually becoming the main force of the economy, they are not superstitious about the so-called "big brands" compared to their parents, and feel that "no matter whether it's a big brand or a small brand, the one that suits me is a good brand."
Thirdly, in terms of the claim rate, the entire insurance industry has a claim rate of more than 95%, and insurance really doesn't have that many rejections;
As the saying goes, "A good deed goes unnoticed, but a bad deed travels a thousand miles."
For example:
If Xiaoming takes out an insurance policy, and then, unfortunately, gets a claim, Xiaoming will not be able to get a claim.
If Ming is insured and then has an unfortunate accident, and then gets a claim, he won't send his friends a message announcing that he has received hundreds of thousands of dollars in claims;
But on the other hand, if Ming doesn't get a claim or if there's a dispute over a claim, he will send his friends a message scolding the insurance company and the industry for constant complaints;
So the negative impact of a 5% denial of a claim may overshadow the positive impact of 95% of smooth claim settlements;
If the insurance industry's claim rejection rate exceeds 20%, do you think anyone will still trust the insurance companies, and anyone will still be insured?
So why is the claim rate just over 95% instead of 100%?
It can be summarized as follows: the failure to provide truthful information has a significant impact on the underwriting result, or is an exemption clause and therefore denied the claim.
02.Claims type1.Claims amount percentage
▲In the analysis of the type of claims, I chose the 2018 Ping An Life data as a reference.
Why did you choose Ping An Life's data?
Because of the large amount of data, partners who have studied statistics are clear that the larger the sample size, the more reflective of the actual situation, and the Ping An claim amount is large enough that the data is worth focusing on for reference;
On the percentage of "claim amount", we can see that critical illnesses account for nearly 40% of the payout ratio, followed by medical liability, death liability, disability liability;
On the type of claim In terms of the percentage of claims: Critical Illness > Medical > Death > Disability
2. Percentage of claims
Peace of mind has a large amount of data, but it doesn't have statistics on the percentage of "number of claims", so it is necessary to choose Sun Life's annual report on claims as a reference;
In terms of the percentage of "number of claims", it's surprising to see that nearly 95% of the payouts are in the medical liability, while the percentage of critical illness and death liability is the same. liability is equal to death liability, and finally disability liability.
In terms of the number of claims by claim type: medical > critical illness > death > disability
An analysis of the number of claims and the number of claims shows that critical illness insurance pays out more often, while medical insurance pays out more often;
In a sense, medical insurance should be taken out before critical illness insurance because medical liability is more prone to be insured, and the medical condition is more important than critical illness insurance.
An example: a person's life will only be claimed 1-2 times at most for critical illnesses, but claims for hospitalization is uncertain, cut a hemorrhoid is also the need for hospitalization;
And, critical illness insurance for some abnormal physical condition can be "standard body coverage", but medical insurance is basically once a preexisting condition are excluded. The company's website has been updated with the latest information on the subject.
Summary, medical insurance and critical illness insurance are the hardest hit by claims.
03. Summary of major disease claims1. Types of critical illness claims
From the summary of the annual report of a number of claims can be analyzed: malignant tumors accounted for a higher proportion of claims for critical illnesses, accounting for more than 65% of the total, so most of the partners who took out critical illness insurance because of the "malignant tumors" claims, in addition to the malignant tumors, the higher proportion of claims for serious illnesses, respectively, are: acute myocardial infarction, cerebral stroke, end-stage renal disease, The most important of these are: acute myocardial infarction, stroke, end-stage renal disease (uremia), benign brain tumors, and coronary artery bypass grafting.
2. Types of malignant tumor claims
And in the malignant tumor claim percentage, in recent years, the most claims is "thyroid cancer", accounting for nearly 20%, here it is easy to understand why the insurance company underwriting is so strict on the "thyroid nodules", because too many thyroid cancer claims.
In addition to thyroid cancer, breast cancer, lung cancer, cervical cancer, liver cancer, stomach cancer, rectal cancer, ovarian cancer, endometrial cancer have higher claim rates;
3. Rejuvenation of malignant tumors
With the change of living habits, especially the personal feeling that the society is now draining the young people's health, and a lot of young people are taking their lives at work.
So the 2018 claims annual report shows a trend of malignant tumor rejuvenation, with a slight increase in the number of claims from 21-40 year olds compared to 2017.
4, male and female critical illness claim types
▲In the ratio of men and women with critical illnesses, the proportion of female claims is higher than that of men, with 55% of women and 45% of men; it's worth noting that 83% of female critical illness claims are due to malignant tumors, and 58% of men. Among them, breast cancer, cervical cancer, ovarian cancer, endometrial cancer are all female-specific cancers, so women should pay more attention to whether the cancer coverage is high enough when they are insured;
5, the age distribution of critical illnesses
▲In the distribution of critical illnesses claims, 80% of them occurred between the ages of 31-60 years old, which happens to be the peak of the career, the old man and the young man, and the shoulder is responsible for a variety of loans. The period of a variety of loans, can be described as work pressure and family responsibilities of the heaviest stage, so you can not take a chance naked, but need to be based on their own financial situation reasonable configuration of insurance programs. The first thing to consider is the amount of coverage. Whether you use the income method or the expenditure method to calculate the shortfall in coverage, the amount of coverage for a critical illness insurance policy should not be less than 300,000 dollars.
04. Summary of death claims1. Disease and accidental death
▲From the age distribution of death, we can see that three characteristics:
One. Both accidental death and disease death are concentrated in the age of 41-50 years old, which is the period of high incidence of serious illness;
Three. The proportion of disease death is higher than the proportion of accidental death after the age of 60 years old.
2. Types of Accidental Deaths
▲In the statistics of the types of accidental deaths, nearly 20% of the deaths were due to traffic accidents, and the rest were due to falls, drowning, etc.
With the increasing number of means of transportation and their more frequent use, traffic is still the main factor in accidental deaths. major factor.
Many partners only pay attention to critical illness insurance, medical insurance insurance planning, and insufficient planning for accidental insurance, resulting in many partners accidental death of the sum insured are lower.
But if the death of the object is the family breadwinner, it will certainly bring serious financial impact to the whole family.
05. Summary of medical claims1. Types of medical insurance claims
▲In the types of medical insurance claims, children and young people to respiratory diseases, gastrointestinal diseases claims more, for example, small children are most likely to be hospitalized because of pneumonia, gastroenteritis and so on;
With the age of the cardio-cerebral vascular disease, malignant tumors, chronic respiratory disease claims gradually increased, for example, many of the elderly have cerebral vascular diseases, malignant tumors, chronic respiratory diseases, and other claims, and the number of people who have to pay for their own health care. For example, many elderly people have cerebrovascular obstruction, coronary heart disease, three high, the elderly emphysema, etc.
2, the proportion of million of medical claims
▲ Although "million of medical" is often dissed, but from the insurance company's data published in the view of the million of medical claims, although the number of claims accounted for a small number of claims, but the amount of the claim is higher.
The insurance planning is mainly to prioritize the solution of big risks, medium risks, for small claims these small risks can be risky to stay, and will not cause a serious financial blow to the family.
So, from the point of view of the larger amount of claims, a few hundred dollars of million-dollar health care can transfer tens of thousands of pieces of average medical risk, why not invest?
06. Insufficient health insurance coverageSocial security and commercial insurance are supposed to complement each other as the best partner, but there are always some partners who feel that they have social security is enough.
And residential medical claims data show that 51.07% of the partners of the social security reimbursement ratio of less than 50%, social security, although it has a wide range of coverage, but the reimbursement ratio is not high is also a fact, so in addition to social security, we need to supplement their own commercial insurance.
An example:
Social security is the equivalent of reading "nine years of compulsory education", the mandatory basis;
Commercial insurance is the equivalent of reading "higher education", self-funded options;
written in the back of theInsurance is not a simple "sale", but the need for scientific planning process, through the collation of a number of insurance companies claims annual report, Mr. Murphy according to the type of risk to help you summarize the risk framework, although the risk of major medical claims accounted for a relatively high proportion of the risk of the family's greatest impact on the risk of the rankings should be: the family's breadwinner The most important thing is that you can't afford to lose your family's breadwinner, but you should be able to afford to lose your family's breadwinner.
You can also follow this direction in your daily insurance planning to choose the right product for you.
Related Readings
Mr. Murphy: I'm going to make a claim and panic: what information do I need to make a claim?Added 24.7.2019
See the comment section there are a lot of questioning the data of the keyboard warrior,
Some keyboard warriors will always question all kinds of data,
Large to the country's statistical data, as small as their own family's account books,
All in all, feel that the whole world can not be trusted, but only the most intelligent he .....
So in their opinion, insurance company claims data are fake,
I won't talk about the data, I'll add a simple logic.
1, the insurance company announced a high claims rate, others scolded the data is flawed, not objective; 2, the insurance company announced a low claims rate, others scolded the insurance company has no conscience, do not pay claims; 3, criticizing a certain product, a certain company, others feel that you are a black powder; 4, recommending a good product, a good company, others feel that you are being recharged.how to say are wrong,
how to say are not people,
lol ......
The keyboard warriors are just extraordinarily numerous.
I'd like to ask which of GDP, CPI, or BMI is not flawed?
Although the stats are flawed, it's good enough to reflect 90% of what's going on.
It's normal to have insurance companies with 100% claims, and it's a dynamic value,
Most insurance claims are small claims,
If major disease claims outnumber small claims,
it means that the probability of someone close to you having a major disease is very high ......
So people are going to get yelled at again for counting small claims in their statistics on claim rates?
Some people are always afraid that insurance companies will purposely not pay out,
I'd like to ask, are insurance companies set up to deny claims?
Obviously not
It takes good evidence and reason for an insurance company to deny a claim.
The vast majority of insurance claims are successful,
Of course there are a small number of cases where claims are denied,
just as airplanes are the safest form of transportation in the world, but there are also plane crashes.
So it's really normal to have denials,
And, many denials are one in a million,
It's definitely much easier to find a case with a smooth claim than it is to find a case with a disputed claim.
But that's the way it is in the human heart,
Bad things happen to good people,
If an insurance company denies a claim,
If the claim goes through,
If the claim goes through,
If the claim goes through,
If the claim goes through,
If the claim goes through,
If the claim goes through,
If the claim goes through, I'll just take it.
Mr. Murphy: Is it easy for an insurance company to deny a claim? What are the reasons?--------- -Updated February 20, 2020 -------- -
Waving goodbye to 2019, major insurance companies have already settled their claims data for the whole of 2019 and issued their annual claims reports.
After reading a number of claims annual reports, including China Life, Ping An Life, Pacific Life, Huaxia Life, Taiping Life, Xinhua Life, Taikang Life, PICC Life Insurance, Fudelife, Tianan Life, Qianhai Life, Hundred Years of Life, Sunshine Life, Guohua Life, ICBC Ansheng Life, Evergrande Life, Agricultural and Bank of China Life, CITIC-Prudential Life, Hedgelife, China Merchants CITIC-Prudential Life, Hopscotch Life, China Merchants Life, CIIC Life, Sino-American Union Life, Minsheng Life, Everbright Life, Sino-British Life, Great Wall Life and other 30 insurance companies with the highest premium income, and compiled a number of representative claims data, to help you according to their own needs, to vote for their insurance.
01. Claims and claims rate(Image from Taikang Life)
1. Claims and claims rate increase
From these claims data, China Life's claims amount ranked first. China Life paid out 47 billion dollars a year, with a 99.4% claim rate. The rise in the amount of claims shows that consumers' awareness of insurance is also increasing.
It is often said online that insurance claims are difficult.
But I think the facts speak for themselves. From the claims data, it is not difficult to find that the insurance companies to shell out the money is still relatively fast, the claims rate are basically more than 97%, some companies even reached more than 99% of the payout rate, so we can breathe a sigh of relief.
2, the claim time limit grows fast
For everyone, buy insurance in addition to the claim problem, followed by the claim time limit problem. Across the insurance companies, the insurance company's claims speed is not slow at all Oh, especially in the era of Internet intelligence, the insurance company's claims speed obviously skyrocketed!
Peace of mind flash claims: guarantee to pay claims within 30 minutes, an average of 14 minutes, the fastest 17 seconds, accounting for 50% of the total number of claims + Pacific AI intelligent decision-making claims: 3.6 seconds to give a claim decision, there are already 60,000 customers enjoying the AI service pacific "seconds to pay": mobile claims online claims to complete the claims application and the With the assistance of technical means such as UnionPay verification, OCR (character recognition), face recognition, e-signature and automatic claims rule base, 66% of claims are processed in seconds. Taikang Credit Claims: the first intelligent "credit claims" model with zero manual intervention. The first of its kind, the intelligent "credit payout" model, which takes 20 seconds for the payout to arrive at the account, networks 2,032 hospitals, and realizes 68,000 cases of "no application, zero waiting" direct payment service. Insurance companies are also advancing with the times, and the claims function is being gradually upgraded and optimized, which undoubtedly brings good news to the majority of insurance consumers.Therefore, the argument that insurance claims are difficult and slow to settle is hardly tenable.
02.Types of Claims(Image sourced from Taikang Life)
(Image sourced from Taikang Life)
03.Claims Hardest Hit Areas1. Claims Hardest Hit Areas - Cancer, Cardiovascular and Cerebrovascular Diseases
(Image sourced from Ping An Life)
(Image (Source from Sino-British Life)
In people's most concerned about the critical illness insurance claims, major insurance companies claim the top three major diseases for malignant tumors, post-stroke sequelae, acute myocardial infarction, accounting for as much as 85%-90% or more, of which malignant tumors have always been in the first place, claims accounted for the highest one.
(Photo courtesy of Sino-British Life)
From the annual report of each insurance company's claims, regardless of gender, thyroid cancer and lung cancer are the most prevalent malignant tumors, and women need to guard against breast and cervical cancers, and take more care of their own health; men need to cultivate a good habit of life, avoiding smoking and alcohol.
The incidence of malignant tumors is getting higher and higher, but with the development of medical technology, the cure rate is also rising. As thyroid cancer, breast cancer, cervical cancer cure rate is relatively high. In other words, a person with cancer can still live a long time. However, it is difficult to guarantee that we will not get other serious illnesses in it, so when you buy a serious illness, you can consider products with multiple payouts to give yourself an extra protection.
2, claims age rejuvenation
(Photo from Ping An Life)
Consolidated major insurance companies' claims report, the highest percentage of people with the highest percentage of critical illness claims in 2019 is concentrated in the age of 30-60 years, and the onset of the disease has already tended to be rejuvenated. With the economic development, income increases at the same time, to face a variety of pressures, which comes from work, family, social pressure, etc., the onset of the disease obviously tends to be younger, for this reason, Mengdiao reminds everyone to pay attention to health issues, early planning for basic protection.
3, insufficient coverage
(Photo from Great Wall Life)
Data shows that more than 50% of the major diseases coverage is less than 100,000 yuan, which shows that the coverage is generally insufficient, and I am afraid that it is difficult to resist the difficulties when serious illnesses come, Dreamfly warmly reminds us to buy critical illnesses is to buy coverage, and only the coverage is enough to save for the rainy day, so as to resist the risks. The first thing you need to do is to buy a new policy.
(Photo courtesy of PICC Life Insurance)
The reason for this is that the amount of coverage for critical illnesses is low because some people buy critical illnesses insurance earlier, the onset of the disease is later, the heart is inevitably a bit of a fluke, or before the purchase of critical illnesses insurance coverage is too much additional protection, financial management, profit-sharing, accidents, premiums are large, but the main protection has not been focused on. The incidence of critical illnesses is rising year by year, and Mengdiao suggests that we should weigh the situation according to our own circumstances and prepare enough protection for ourselves and our families.
Through the 30 claims annual reports, the insights of claims in 2020 are:
① Claims amount and claims rate increase
② Claims time limit increases faster
③ Medical insurance has the highest amount of claims
④ Cancer, cardiovascular and cerebral vascular diseases are the hardest hit by the claims
⑤ Claims age is getting younger
⑥ Claims amount of coverage Seriously insufficient